US Short-seller alleges accounting fraud by Fairfax

Fairfax Financial Holdings, led by Indian-Canadian entrepreneur Prem Watsa, came under attack by US hedge fund Muddy Waters, triggering a sharp decline of 12% in its shares on Thursday. Muddy Waters alleged misconduct by the Toronto Stock Exchange-listed company, leading to investor concerns. However, the stock rebounded slightly on Friday following a research note from the National Bank of Canada that played down the accusations.
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